The nanocoating is forecast to crazy over the next four years. According to the WK-chem Research “Global Nanocoating Professional Survey Report 2024, Forecast to 2029”, the rising concerns related to VOC emissions from conventional coatings are one of the key reasons for boosting market demand. The compound annual growth rate (CAGR) for the 2024-2029 period is projected to be 22.32% base on WK-chem Research regression analysis model.
Analysts’ Viewpoint:
“The coatings are key materials that can revolutionize insulation methods as they are structures at the molecular level. Therefore, the increasing adoption of green infrastructure is expected to contribute to the global nanocoatings market growth during the forecast period”, said Michael Steve, Senior analyst, Chemical and Material Market Research Center in WK-chem Research.
Market insight:
Nanocoatings are one of the most favorable high-performance materials that are employed in the construction industry. Owing to their self-assembly effect, they exhibit exceptional characteristics compared to conventional coatings. They are particularly used for protecting various surfaces such as glass, concrete, and marble or sand limestone from staining, corrosion, abrasion, and other external factors.
The increasing demand from the construction industry to protect the infrastructure from UV radiation, corrosion, moisture, acid rain, and pollutants is expected to boost the market growth. Photocatalytic and hydrophobic coatings are widely used in buildings & exteriors to protect the substrate from UV radiations and moisture. The growing demand for the self-cleaning type of coatings that help prolong the maintenance cycles of the infrastructure is anticipated to accelerate the market growth. Moreover, coated substrates are less prone to external damage.
The rising concerns related to VOC emissions from conventional coatings are one of the key reasons for boosting market demand. Polymeric coatings involve emissions of VOCs that degrade the air quality, whereas nanocoatings are environmentally safe and sustainable. They are often used to insulate new and existing materials, wood, metals, and masonry while preventing the off-gassing of other types of coatings. The shifting consumer preference towards green and sustainable options is projected to drive the market.
Manufacturing processes of the coatings involve the incorporation of nanomaterials such as carbides, nitrides, and ceramics. Additionally, it requires advanced machinery & equipment which are slightly expensive. Different product types have different raw material requirements, and fluctuating raw material prices further lead to high end-product prices. The cost of raw materials, along with the maintenance cost for the production technologies and machines, is comparatively higher than conventional coatings, resulting in the rise in the final product price. This is expected to hamper the growth of this market in the forthcoming years.
Competition Landscape:
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading nanocoating companies that include Buhler, Nanogate, Nanophase Technologies, Bio-Gate, ADMAT Innovations, Surfix BV Advanced Nanocoatings, Nanomech, EIKOS, CIMA Nanotech, Telsa Nanocoatings, Inframat, Integran Technologies, Nanovere Technologies, Nanofilm.
Segmentation of Nanocoating Market:
On the basis of type, the market is segmented into antimicrobial, self-cleaning, anti-fingerprint, anti-corrosion, and others. The others segment includes photocatalytic coatings, hydrophobic coatings, superhydrophobic coatings, anti-fouling coatings, abrasion-resistant, thermal barrier, and anti-icing coatings.
The self-cleaning segment held the major share in the market, followed by the anti-microbial segment. The self-cleaning coatings repel the contaminants such as dust, foreign objects, and other materials. They are used for glass coating, which further reduces maintenance efforts and cost.
Antimicrobial coatings find application in the healthcare and medical sector. These coatings inhibit the growth of bacteria and microbes on surfaces. Therefore, it is widely used in coating surgical instruments and medical devices prone to bacterial and microbial build-up. This is expected to boost the growth of the segment in the forthcoming years.
On the basis of the application, the market is segmented into building & construction, automotive, aerospace, electronics, marine, and others. The other segment includes medical, healthcare, food packaging, and energy.
The building & construction segment accounts for the major market share due to the increasing development and urbanization. The growing adoption of newer and enhanced technological solutions shall further contribute to the segment’s demand. Along with thermal insulation, protective coating for glass, hydrophilic and hydrophobic coatings, they are also employed to avoid bacterial and fungal build-up that can damage the infrastructure and materials that are highly valuable and significant. Moisture and other various external factors can also affect the condition of construction and infrastructure.
Nanocoating Market: Regional Analysis
In terms of geography, the global nanocoating market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. North America is expected to dominate the global market during the forecast period, strongly influenced by government subsidies, interest rates, construction activities, and consumer expenditure, all of which are important components of GDP. The rising expenditure on infrastructure, coupled with the government's increasing investment to support sustainable development, shall support the market growth.
The growing aerospace and electronics industry is likely to drive the market. The U.S. is a major producer of nanocoatings and nanomaterials. High-end technologies and continuous R&D in nanotechnology are key factors driving regional growth. North America is expected to showcase substantial growth attributed to green building technologies and sustainable development. The growth of end-use industries in the region is expected to drive the market further. For instance, the United States Green Building Council (USGBC) initiated the LEED program to support green buildings and communities worldwide.
Asia Pacific is expected to hold a significant nanocoatings market share in the global market. The increasing building & construction activities and development of the industrial sector shall positively impact the market. China contributes a major share due to the presence of a large manufacturing base. Additionally, low labor cost and easy availability of raw materials are anticipated to fuel the region's market growth.
Europe is one of the regions that have an established automotive industry. Countries like Germany, Italy, France, and the U.K. are major producers of automobiles. The increasing demand from these countries for passenger vehicles and luxury vehicles is expected to bolster the market demand. Additionally, the highly developed medical sector is expected to raise the demand for anti-microbial nanocoatings in the region.
The market in Latin America is considerably developing for the past few years. With the increasing government initiatives to develop industrial & social position and economic conditions, Mexico's key infrastructure projects were specifically directed to be continued during the national COVID-19 shutdown. Moreover, supportive government initiatives that focus on constructional and infrastructural development are anticipated to boost the growth of the market in the region.
Analysts’ Viewpoint:
“The coatings are key materials that can revolutionize insulation methods as they are structures at the molecular level. Therefore, the increasing adoption of green infrastructure is expected to contribute to the global nanocoatings market growth during the forecast period”, said Michael Steve, Senior analyst, Chemical and Material Market Research Center in WK-chem Research.
Market insight:
Nanocoatings are one of the most favorable high-performance materials that are employed in the construction industry. Owing to their self-assembly effect, they exhibit exceptional characteristics compared to conventional coatings. They are particularly used for protecting various surfaces such as glass, concrete, and marble or sand limestone from staining, corrosion, abrasion, and other external factors.
The increasing demand from the construction industry to protect the infrastructure from UV radiation, corrosion, moisture, acid rain, and pollutants is expected to boost the market growth. Photocatalytic and hydrophobic coatings are widely used in buildings & exteriors to protect the substrate from UV radiations and moisture. The growing demand for the self-cleaning type of coatings that help prolong the maintenance cycles of the infrastructure is anticipated to accelerate the market growth. Moreover, coated substrates are less prone to external damage.
The rising concerns related to VOC emissions from conventional coatings are one of the key reasons for boosting market demand. Polymeric coatings involve emissions of VOCs that degrade the air quality, whereas nanocoatings are environmentally safe and sustainable. They are often used to insulate new and existing materials, wood, metals, and masonry while preventing the off-gassing of other types of coatings. The shifting consumer preference towards green and sustainable options is projected to drive the market.
Manufacturing processes of the coatings involve the incorporation of nanomaterials such as carbides, nitrides, and ceramics. Additionally, it requires advanced machinery & equipment which are slightly expensive. Different product types have different raw material requirements, and fluctuating raw material prices further lead to high end-product prices. The cost of raw materials, along with the maintenance cost for the production technologies and machines, is comparatively higher than conventional coatings, resulting in the rise in the final product price. This is expected to hamper the growth of this market in the forthcoming years.
Competition Landscape:
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading nanocoating companies that include Buhler, Nanogate, Nanophase Technologies, Bio-Gate, ADMAT Innovations, Surfix BV Advanced Nanocoatings, Nanomech, EIKOS, CIMA Nanotech, Telsa Nanocoatings, Inframat, Integran Technologies, Nanovere Technologies, Nanofilm.
Segmentation of Nanocoating Market:
On the basis of type, the market is segmented into antimicrobial, self-cleaning, anti-fingerprint, anti-corrosion, and others. The others segment includes photocatalytic coatings, hydrophobic coatings, superhydrophobic coatings, anti-fouling coatings, abrasion-resistant, thermal barrier, and anti-icing coatings.
The self-cleaning segment held the major share in the market, followed by the anti-microbial segment. The self-cleaning coatings repel the contaminants such as dust, foreign objects, and other materials. They are used for glass coating, which further reduces maintenance efforts and cost.
Antimicrobial coatings find application in the healthcare and medical sector. These coatings inhibit the growth of bacteria and microbes on surfaces. Therefore, it is widely used in coating surgical instruments and medical devices prone to bacterial and microbial build-up. This is expected to boost the growth of the segment in the forthcoming years.
On the basis of the application, the market is segmented into building & construction, automotive, aerospace, electronics, marine, and others. The other segment includes medical, healthcare, food packaging, and energy.
The building & construction segment accounts for the major market share due to the increasing development and urbanization. The growing adoption of newer and enhanced technological solutions shall further contribute to the segment’s demand. Along with thermal insulation, protective coating for glass, hydrophilic and hydrophobic coatings, they are also employed to avoid bacterial and fungal build-up that can damage the infrastructure and materials that are highly valuable and significant. Moisture and other various external factors can also affect the condition of construction and infrastructure.
Nanocoating Market: Regional Analysis
In terms of geography, the global nanocoating market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. North America is expected to dominate the global market during the forecast period, strongly influenced by government subsidies, interest rates, construction activities, and consumer expenditure, all of which are important components of GDP. The rising expenditure on infrastructure, coupled with the government's increasing investment to support sustainable development, shall support the market growth.
The growing aerospace and electronics industry is likely to drive the market. The U.S. is a major producer of nanocoatings and nanomaterials. High-end technologies and continuous R&D in nanotechnology are key factors driving regional growth. North America is expected to showcase substantial growth attributed to green building technologies and sustainable development. The growth of end-use industries in the region is expected to drive the market further. For instance, the United States Green Building Council (USGBC) initiated the LEED program to support green buildings and communities worldwide.
Asia Pacific is expected to hold a significant nanocoatings market share in the global market. The increasing building & construction activities and development of the industrial sector shall positively impact the market. China contributes a major share due to the presence of a large manufacturing base. Additionally, low labor cost and easy availability of raw materials are anticipated to fuel the region's market growth.
Europe is one of the regions that have an established automotive industry. Countries like Germany, Italy, France, and the U.K. are major producers of automobiles. The increasing demand from these countries for passenger vehicles and luxury vehicles is expected to bolster the market demand. Additionally, the highly developed medical sector is expected to raise the demand for anti-microbial nanocoatings in the region.
The market in Latin America is considerably developing for the past few years. With the increasing government initiatives to develop industrial & social position and economic conditions, Mexico's key infrastructure projects were specifically directed to be continued during the national COVID-19 shutdown. Moreover, supportive government initiatives that focus on constructional and infrastructural development are anticipated to boost the growth of the market in the region.
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